Ripple’s dollar-backed stablecoin RLUSD today secured the status of a “Recognised Crypto Token” from the Dubai Financial Services Authority, clearing it for use inside the Dubai International Financial Centre.
The designation, announced only six months after RLUSD’s launch under a New York Department of Financial Services (NYDFS) trust-company charter, makes RLUSD the first fully-reserved US-dollar stablecoin to receive this recognition.
